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Long-Term Goal Update

December 27th, 2008 at 02:07 am

I added my long-term goals to my sidebar. I am liking this new format - clear and concise. These are all things I have talked about at some point or another. But, yeah, now it's all in a little concise summary.

**Long-Term Goals**

[x] 15% gross to retirement
[ ] 10% gross to cash (mid-term) savings (This is more of a catch-up goal than a long-term goal. BUT the nice thing about over-saving cash is you can invest it later. As long as it is not spent on stupid things). Big Grin
[ ] Max out ROTHs
[ ] Pay mortgage off by age 45 (before kids start college)

Those goals are in the order we would like to achieve them.

The following are some things we intend to spend our cash on:

[ ] Paint Exterior of Home
[ ] Replace Fence
[ ] Replace 2001 Ford with a Prius (ideally, 2013 or later)
[ ] Purchase a used convertible in the $5k range (To replace the one I gave up when we had kids! I had bought it like new for about $6k and sold it for $3k after BM arrived. I'd love a Toyota Celica - for power and fuel efficiency - Celica was my first car and is sporty and cute as a convertible. My last one was a Mustang - cute but cheap - not going the cheap route again. & it was actually a 4-cylinder so not bad on gas, but it sucked).

& my aggressive net worth goals, that I have mentioned many times before:

Increase Net Worth by 50% of expenses, annually:

[x] 2007 +$30k
[ ] 2008 +$0
[ ] 2009

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I am caught up enough at work that I worked no overtime this week and I have the entire weekend off. YAY!!!!

I'll do a Christmas update over the weekend.

4 Responses to “Long-Term Goal Update”

  1. scfr Says:
    1230352007

    I misread at first and thought you had increased your net worth by $30K THIS year in spite of the stock market, and I was going to ask you how in the heck you did that ... but then I re-read more carefully, so ... nevermind! Big Grin

  2. monkeymama Says:
    1230388403

    My goal this year is to breakeven - hehe. At this point in the game.

    In the left column I was able to strike out 2008 as a failed net worth goal, but couldn't figure out how to make a strikethrough in a post.

  3. jIM Says:
    1230403611

    could you detail

    "Increase Net Worth by 50% of expenses, annually"

    Is this have 60k of expenses, so net worth must increase by 30k?

    where is this coming from?

  4. monkeymama Says:
    1230423761

    Text is http://www.emarotta.com/article.php?ID=165 and Link is
    http://www.emarotta.com/article.php?ID=165
    I read this article a couple of years ago and I really liked the concept of tracking progress through expenses. You have to understand our income has been ALL over the map the last decade ($20k, $60k, $100k, $40k, $50k, %70k - you get the idea!). BUT, since we've had a mortgage, 1999, our expenses have not risen that much. They rise more slowly and steady with inflation and such. It's kind of the constant.

    I am not sure I agree 1000% with the article and I aim high so by age 40 it says we should be increasing our net worth by our annual expenses, every 2 years. So I figured that was a good goal for 30. Though clearly we are not quite there (when you average multiple years), it is our goal. I would hope to make it well before 40.

    I've talked a lot about this in the past.

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